Genworth Financial reported a third quarter 2026 consolidated revenue of $1.79 billion, falling short of the $1.88 billion analyst consensus. The company recorded a net loss of $41 million, primarily driven by unfavorable experience in the long-term care (LTC) Closed Block, which offset strong capital returns and operating performance from its mortgage insurance subsidiary, Enact.
Key Highlights
- Enact segment delivered $132 million in adjusted operating income and returned $122 million in capital to Genworth during the quarter.
- Shareholder returns were prioritized with $80 million in share repurchases at an average price of $10.05, supported by a new $500 million buyback authorization.
- The Closed Block segment reported a $146 million adjusted operating loss, including $111 million in pre-tax losses from higher LTC benefit utilization and lower mortality-driven terminations.
- Enact's primary new insurance written (NIW) decreased 7% sequentially to $14.1 billion, impacted by the higher mortgage rate environment.